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This paper builds upon the widely-used resource-based approach to explaining survival of new technology-based firms (NTBFs). However, instead of looking at the NTBF's initial resource configuration, a process-oriented perspective is taken by focusing on the entrepreneur's ability to transform resources in response to triggers resulting from market interactions. Transaction relations reflect these interactions and are thus operationalized with a suggested method for measuring the status of venture emergence (VE) applicable to early-stage NTBFs. NTBFs' value network maturity is reflected in the number and strength of their transaction relations in the four market dimensions customer, investor, partner, and human resource. Business plans of NTBFs represent the artifact that contains this data in the form of transaction relation descriptions. Using content analysis, a multi-step combined human and computer coding process has been developed to annotate and classify transaction relations from business plans in order to empirically determine NTBFs' status of VE. Results of the business plan analysis suggest that the level of transaction relations allows to draw conclusions on the VE status. Moreover, applying the developed process, first analysis of a business plan coding test shows that the transaction relation based VE status significantly relates to NTBF survival capability.
We examine to what extent a transaction relation-based value network maturity status of New Technology-Based Firms (NTBFs) is related to their survival. A specific challenge of NTBFs is their lack of market-orientation, which is why the maturity of the ties they form towards the market in terms of customers, financiers, personnel and partners is supposed to be a strong indicator for survival. We analyze a sample of 170 NTBFs by capturing their value network status from business plans and defining their survival status using secondary research. Simple statistical tests and regressions suggest that the official registration of the business is a pre-step for survival that requires industry-specific value network dimension strengths. A sub-sample survival analysis shows that for all NTBFs that have reached registration, regardless of their industry, a stronger customer value network maturity dimension prevents from failure and is thus a significant predictor for survival. Moreover, the analyses partly support the idea that NTBFs from the IT sector are less dependent on a strong value network in the financier dimension to survive. The results are of relevance for both practitioners and researchers in the innovation system: a better understanding of the factors impacting on NTBF survival can help to provide more tailored support services for young firms, increase the effectiveness of resource allocations, and provide a basis for further research.
Text produced by entrepreneurs represents a data source in entrepreneurship research on venture performance and fund-raising success. Manual text coding of single variables is increasingly assisted or replaced by computer-aided text analysis. Yet, for the development of prediction models with several variables, such dictionary-based text analysis methods are less suitable. Natural language processing techniques are an alternative; however, the implementation is more complex and requires substantial programming skills. More work is required to understand how text analytics can advance entrepreneurship research. This study hence experiments with different artificial intelligence methods rooted in Natural Language Processing and deep learning. It uses 766 business plans to train a model for the automated measurement of transaction relations, a construct which is an indicator for new technology-based firm survival. Empirical findings show that the accuracy of construct measurement can be significantly increased with automated methods and improves with larger amounts of training data. Language complexity sets limits to the precision of automated construct measurement though. We therefore recommend a hybrid approach: making use of the inherent advantages of combining automated with human coding until the amount of training data is sufficiently large to substitute the human coding completely. The study provides insights into the applicability of different text analytics methods in entrepreneurship research and points at future research potential.
Business coaching is believed to effectively improve survival and success chances of new technology-based firms (NTBFs). However, not much empirical evidence on the support measure's effectiveness is available. Therefore, a pragmatic two-armed Randomized Controlled Trial (RCT) to test the effect of tactical business coaching on NTBF survival capabilities was designed and, for the most part, carried out. However, due to a lower than expected sample size and great attrition between groups, the RCT reveals deviations from the trial design that impede a thorough data assessment. Based on the data given, a first data analysis does not reveal significant differences in survival capability between the two groups. Thus, to provide guidance for future RCTs in business contexts, lessons learned about how to deal with trickle samples and experiment constellations with third parties carrying out the intervention are drawn.
Forschungsfrage: Welche Rollen lassen sich in Corporate Entrepreneurship identifizieren? Wie unterscheiden sich diese anhand verschiedener Merkmale und welche Fähigkeiten scheinen besonders relevant für ihre erfolgreiche Ausführung?
Methodik: Explorative Studie mit 56 semi-strukturierten Interviews mit Corporate-Entrepreneurship-Aktivitäten im DACH-Raum
Praktische Implikationen: Ein genaues Verständnis über die jeweiligen Rollen, ihre Unterschiedlichkeiten und Anforderungen ist notwendig, um die verschiedenen Corporate-Entrepreneurship-Aktivitäten mit passendem Personal zu besetzen.
Today’s markets are characterized by fast and radical changes, posing an essential challenge to established companies. Startups, yet, seem to be more capable in developing radical innovations to succeed in those volatile markets. Thus, established companies started to experiment with various approaches to implement startup-like structures in their organization. Internal corporate accelerators (ICAs) are a novel form of corporate venturing, aiming to foster bottom-up innovations through intrapreneurship. However, ICAs still lack empirical investigations. This work contributes to a deeper understanding of the interface between the ICA and the core organization and the respective support activities (resource access and support services) that create an innovation-supportive work environment for the intrapreneurial team. The results of this qualitative study, comprising 12 interviews with ICA teams out of two German high-tech companies, show that the resources provided by ICAs differ from the support activities of external accelerators. Further, the study shows that some resources show both supportive as well as obstructive potential for the intrapreneurial teams within the ICA.
Corporate venturing has gained much attention due
to challenges and changes that occur because of discontinuous
innovations – which seem to be promoted by digitalization. In this
context, open innovation has become a promising tool for
established companies to strengthen their innovation capabilities.
While the external opening of the innovation process has gained
much attention, the internal opening lacks on investigations.
Especially new organizational forms, such as Internal Corporate
Accelerators, have not been investigated sufficiently. This study,
which is based on 13 interviews from two German tech-companies,
contributes to a better understanding of this new form of corporate
venturing and the resulting effects on the organizational renewal.
The organizational capability to adapt to the fast and radical changes of market parameters becomes a prerequisite for companies’ long-term survival. In this context, organizational ambidexterity has gained much attention in research and practice. It is the capability to develop new businesses (exploration) while simultaneously optimizing the existing core businesses (exploitation). Established companies face several challenges in achieving this capability, as the underlying learning modes of exploration and exploitation are mutually incompatible. One way to solve these challenges is to separate the exploration-oriented part from the core organization. Corporate venturing has been widely recognized as one tool to create these dual structures to develop new businesses, based on discontinuous innovation. In recent times, new corporate venturing forms emerge in practice. This growing number of different forms has led to new applications of corporate venturing which go beyond the pure development of new businesses, toward supporting the entrepreneurial transformation of companies. This study aims at answering how different corporate venturing forms contribute to the strategic renewal of established companies. For this purpose, qualitative research methods are used to analyze data from 17 interviews conducted in two German high-tech companies. The study at hand provides empirical evidence in the field of corporate venturing by uncovering new insights about the different transformational effects of corporate venturing initiatives on the core organization. It further reveals that corporate venturing forms can be classified into two categories according to their respective level of entrepreneurship and frequency of execution. Both categories exhibit different transformational effects and can be understood as being complementary to each other.
Nachhaltiger Unternehmenserfolg erfordert die Umsetzung von Ambidextrie in der Organisation: Das Nebeneinander von effizienter Optimierung im Kerngeschäft und strategischer Innovation und Transformation in neue Geschäftsfelder. „Eingebettete Unternehmerteams“ werden in diesem Kapitel als eine konkrete Form der Implementierung hierzu vorgestellt. Mit kleinen, autonomen und agilen Teams werden iterativ und unternehmerisch neue Geschäftsfelder aufgebaut. Dies verbessert die Innovationsfähigkeiten und Veränderungskompetenzen und unterstützt die notwendige digitale Transformation im Unternehmen. Für solche hybriden Formen der Organisation sind spezielle Rollen und Profile erfolgskritisch: Der angestellte Unternehmer bzw. Corporate Entrepreneur oder Intrapreneur und sein Team. Dieses Kapitel stellt diese Rollen mit den wesentlichen Aufgaben vor und diskutiert detailliert hierfür erfolgskritische Kompetenzen und Charakteristiken sowie das Zusammenspiel im Team. Anhand zahlreicher Praxisbeispiele werden erfolgreiche angestellte Unternehmer beschrieben, sodass für den Leser ein greifbares Bild dieser Rolle und dafür geeigneter Persönlichkeiten entsteht. Darüber hinaus zeigt das Kapitel auf, wie die Einführung und Umsetzung eingebetteter Unternehmerteams das unternehmerische Handeln, Corporate Entrepreneurship in der Organisation und mit alternativen Karrierepfaden auch die Attraktivität als Arbeitsgeber stärkt.
Corporate entrepreneurship (CE) supports the strategic renewal of established companies. Corporate venturing represents one key concept of CE that supports companies to strengthen their innovation capabilities. For the successful implementation of corporate ventures dual structures are recommended. The question, how the interface should be designed, plays a crucial role. Although it seems to be an important factor, this aspect requires further attention. One relevant element of the interface design are the different roles of the individuals that are interacting within the interface. This study is based on nine interviews that are representing six internal corporate ventures within one large German corporate from the ICT sector. The results that were mirrored with short case studies of 25 additional companies of the data sample, contribute to a better understanding of the interface design by adding insights about roles in corporate entrepreneurship. This deeper understanding about roles allows to draw conclusions on the interface design from a structural point of view.